Abandoned hope for all ye FTBs

FungusFighter

pickles110564 wrote: »

I have not factored in another 10% drop, you say what I have lost is a result but I call it a bl00dy disaster on what I had so confidently predicted.
Would I have made this last move if I knew what was coming? No Chance and over the next few years starting in next spring I will get rid of 50% of the BTL's and let some other fool take them on.

Pickles mate, how do you get rid of half a bedsit?:rotfl::rotfl:

blakester

FungusFighter wrote: »

Pickles mate, how do you get rid of half a bedsit?:rotfl::rotfl:

First up,apologies for going off topic but I get a feeling of dejavu about this thread.....Felixstowe Docks in trouble anyone?:D

Bluebirdnick

dopester wrote: »

http://www.independent.co.uk/news/business/news/buyers-seeking-first-home-are-giving-up-hope-says-leading-property-expert-1690496.html

Except for the headline, which I can imagine is very true, a pretty rubbish article. FTBs should need any interfering help, which is only to prop up prices, such as from the government in the form of homebuyer-shared ownership schemes, or forcing banks to lend at mega-multiples.

We just want the market to play out as it should.

That includes those who own their homes outright but can't get by on savings and then JSA, having to sell and downsize - if they can't find another job to beat JSA and can't keep up anything like their old lifestyles.

Not having JSA boosted to fancy heights to make them comfy to pay bills and car and whatever. I've never heard of anything so ridiculous. :mad:

Not whilst graduates are being told to take call-centre jobs or migrate and try and find work abroad - and UK house prices are so ridiculously expensive.

I'm a (potential) first time buyer. I'm 27, I have a (relatively!) safe professional job and a solid income. I also have a healthy savings account.

There is absolutely no way I'm going to buy a house unless and until prices come down by 20% or so.

I know a few people who are waiting for things to "return to normal" before selling. The problem is, they assume that "normal" is June 2007. It isn't. "Normal" is affordable. The average house price is approximately £220k I think, and average salary is something like £24,000. I appreciate that the first-time buyer would buy a cheaper-than-average house, but the numbers still don't make sense as things stand.

In the meantime, I'm living cheaply, renting off the same people who are waiting for the housing market to return to "normal" so they can make a profit on property they bought 3 years ago to make an easy buck.

My living costs would more than double if I were to buy the house I live in now, and that assumes a 25% deposit and an interest-only mortgage. It just doesn't make any sense to buy, and it won't do until that equation changes significantly.

On top of which, interest rates have to increase (probably significantly), which makes it almost impossible to judge what sort of mortgage I can afford. The only thing that makes me think that prices will rise from here is the fact that the country needs more houses than it has. I think the recent monthly price rises have a lot to do with the fact that a lot of people are not putting houses on the market any more, so there is less choice for those who still want to buy.

Does any of this bother me? Not really. If I really want to own my own house, then I'll build one.

EDIT: I should add that my current landlord is actually a very nice person, and I hold no grudge!

pickles110564

pickles110564 wrote: »

Some of the makers I visited yesterday were offering 3 Years warrenty and 3 years servicing for £249 which aint to bad a deal.
I can not get over the fact that the road tax is only £35.
In 4 years my oldest daughter will be 17 which means I can give her the car knowing that it should still be in good nick.

Mewbie, I settled on a Toyota Aygo and it should be delivered in about 5 weeks time.

jetski690

pickles110564 wrote: »

Mewbie, I settled on a Toyota Aygo and it should be delivered in about 5 weeks time.

Horrible looking little things but they say you can tell about the person by the car they drive. :rotfl:

mewbie_2

pickles110564 wrote: »

Mewbie, I settled on a Toyota Aygo and it should be delivered in about 5 weeks time.

Nice. I wish I had that sort of cash available.

dopester

mewbie wrote: »

Nice. I wish I had that sort of cash available.

Pickles did you see my post of the other week in the MSE motoring forum... this link for the Aygo on Top Gear... review and two teams of drivers playing football with the cars. I like the Aygo too.

Toyota guy told me last month that the electronics in the Aygo are a bit better (to Toyota's own higher standards) than in the other equivalents - but he could have just been making that up.

pickles110564

dopester wrote: »

Pickles did you see my post of the other week in the MSE motoring forum... this link for the Aygo on Top Gear... review and two teams of drivers playing football with the cars. I like the Aygo too.

Toyota guy told me last month that the electronics in the Aygo are a bit better (to Toyota's own higher standards) than in the other equivalents - but he could have just been making that up.

Thanx for that, found out last night that an input clerk at work has an Aygo and is very pleased with it and now only has to fill the tank up every third week.

Spiv_2

Bluebirdnick wrote: »

Does any of this bother me? Not really. If I really want to own my own house, then I'll build one.

Where exactly are you going to build one? This is house builbing in the UK since 1953.



The figure for the current year is 133,000 - lower than in the 80s and 90s crashes.

So why have so few houses been built when we have a growing population? It's, of course, due to the green belt. For example, London is surrounded by its orginal green belt created in the1930s. This caps London's population at 6 million....instead of 16 or 23 or higher. The Green Belt in the UK's cities make property scarce relative to the number who want to live there and therefore high prices come from this scarcity value.....

The idea that you think you can just "build a house" intrigues me.

mbga9pgf

Spiv wrote: »

Where exactly are you going to build one? This is house builbing in the UK since 1953.



The figure for the current year is 133,000 - lower than in the 80s and 90s crashes.

So why have so few houses been built when we have a growing population? It's, of course, due to the green belt. For example, London is surrounded by its orginal green belt created in the1930s. This caps London's population at 6 million....instead of 16 or 23 or higher. The Green Belt in the UK's cities make property scarce relative to the number who want to live there and therefore high prices come from this scarcity value.....

The idea that you think you can just "build a house" intrigues me.

The Tories have a VERY interesting green paper on housing out at the mo....

This MAY change in the near future (asd soon as those labour scumbags get voteed out).